NEW
YORK, March 11, 2024 /PRNewswire/ -- The Gross
Law Firm issues the following notice to shareholders of GrafTech
International Ltd.
Shareholders who purchased shares of EAF during the class period
listed are encouraged to contact the firm regarding possible lead
plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/graftech-loss-submission-form/?id=70026&from=4
CLASS PERIOD: February 8,
2019 to August 3, 2023
ALLEGATIONS: The complaint alleges that during the
class period, Defendants issued materially false and/or misleading
statements and/or failed to disclose that: (a) GrafTech's
manufacturing operations in Monterrey,
Mexico had for decades chronically contaminated neighboring
communities with harmful carcinogenic gasses and particulate
matter; (b) GrafTech had signed agreements with local authorities
committing itself to improving the environmental performance of its
Monterrey facility, but repeatedly
failed to honor these commitments; (c) GrafTech had been repeatedly
warned over an approximately 30-year period regarding its wanton
disregard for the environment and health and well-being of people
near its operations in Monterrey, Mexico; (d) GrafTech's operations
in Monterrey, Mexico were not in compliance with applicable
environmental laws and regulations; (e) the Company had failed to
adequately remediate the environmental problems caused by the
Monterrey facility following the 2019 administrative proceeding
conducted by the Department of Sustainable Development of the State
of Nuevo León; (f) the government of Apodaca had sought
intervention from the State of Nuevo León authorities to curtail
and prevent the adverse environmental impacts and noncompliance
with environmental laws and regulations caused by the Monterrey
facility; (g) GrafTech's purported cost leadership was achieved in
substantial part by failing to implement appropriate and effective
environmental safeguards at its manufacturing facility in
Monterrey, Mexico; (h) GrafTech's capital expenditures and/or
related operational projects were woefully insufficient to
adequately address the harm that the Company's operations in
Monterrey, Mexico had inflicted on the environment and people
within the neighboring communities; (i) as a result of (a)-(h),
GrafTech was acutely exposed to undisclosed material risks that the
Company's manufacturing operations in Monterrey, Mexico would be
severely disrupted by government action or enforcement; and (j) as
a result of (a)-(i), GrafTech was acutely exposed to undisclosed
material risks that its supplies of pin stock and graphite
electrodes would be withdrawn and/or materially diminished, thereby
materially harming the Company's business, operations, reputation,
and financial results.
DEADLINE: March 25, 2024
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/graftech-loss-submission-form/?id=70026&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of EAF during the timeframe listed
above, you will be enrolled in a portfolio monitoring software to
provide you with status updates throughout the lifecycle of the
case. The deadline to seek to be a lead plaintiff is March 25, 2024. There is no cost or obligation to
you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross
Law Firm is committed to ensuring that companies adhere to
responsible business practices and engage in good corporate
citizenship. The firm seeks recovery on behalf of investors who
incurred losses when false and/or misleading statements or the
omission of material information by a company lead to artificial
inflation of the company's stock. Attorney advertising. Prior
results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm